11 Feb 2020

Assistant Minister of Investment, Trade and Industry Mr Karabo Gare has told Parliament that over the past three years, CEDA financed a total of 427 projects in the Agribusiness sector to the tune of P407. 5 million.

Mr Gare stated that CEDA’s performance review for the past three financial years ‘depicts that 40 per cent (169/427) of the funded projects under the agricultural sector were for women.’

He attributed this to the recent innovative solution of microfinance product called Mabogo Dinku, which had cultivated huge interest in women and youth to participate in business.

Mr Gare further mentioned that due to dynamic environment that CEDA operated in, the agency was reviewing its guidelines to ensure continued relevance to stakeholders’ expectations.

“The review will cater for the demographics including age and gender as well as the selection of sectors to be promoted and advance differential approach of support where necessary.

This review is expected to be completed by March,” he said.

In the past three years, he said Botswana Development Corporation (BDC) had facilitated two agricultural projects being the Milk Afric Dairy Farm and Talana Farms Revitalisation Project.

The BDC, he said, had set aside P92 million for Milk Afric, of which P42 million had already been disbursed.

The approved investment was for the establishment of a 2 000 herd dairy facility in Lobatse, he added.
‘Talana Farms is a 100 per cent subsidiary of BDC, the 1 850 hectares farm has been leased to Kwenantle farmers,’ he said.

The assistant minister also explained that: “One of the directors of Kwenantle farm is a young woman who demonstrated the capability of women in agricultural sector,” adding that the farm had created 160 jobs.

Mr Gare was responding to a question from the Member of Parliament for Jwaneng/Mabutsane, Mr Mephato Reatile who wanted the minister to state the number of agricultural projects/businesses funded by CEDA and BDC for the past three years.

He also wanted the assistant minister to assure Parliament if the total amount spent on funding so far supported and facilitated preferential entry and participation for women and youth in gainful and attractive agribusiness opportunities. ENDS